Northacre PLC Results for the year ended 28 -6-
July 14 2014 - 2:00AM
UK Regulatory
Architectural design 63,255 48,683
------------------ ----------------------
2,955,797 3,521,402
================== ======================
Profit before taxation 2014 2013
GBP GBP
Development management 12,364,592 17,092,734
Interior
design (105,086) 3,001
Architectural
design 43,769 (293,515)
------------------ ----------------------
12,303,275 16,802,220
================== ======================
Assets 2014 2013
GBP GBP
Development management 45,138,754 43,762,088
Interior design 454,183 928,793
Architectural design 138,057 165,313
------------------ ----------------------
45,730,994 44,856,194
Liabilities 2014 2013
GBP GBP
Development management 5,259,612 2,941,712
Interior design 550,923 920,447
Architectural design 805,000 878,916
------------------ ----------------------
6,615,535 4,741,075
================== ======================
A geographical analysis of the Group's revenue,
assets and liabilities is given below:
Revenue 2014 2013
GBP GBP
United Kingdom 2,536,571 2,385,562
Saudi Arabia 396,162 1,135,840
USA 23,064 -
2,955,797 3,521,402
================== ======================
Included in the revenue above are revenues in respect of customers
who account for over 10% of the Group's total revenue.
2014 2013
GBP GBP
Customer A (Interior design) 396,162 1,135,840
Customer B (Interior design) - 40,952
Customer C (Interior design) - 807,000
Customer D (Interior design) 707,113 1,095,712
Customer E (Development management
& interior design) 326,669 -
Customer F (Interior design) 422,206 -
Customer G (Development
management) 509,783 -
------------------ ----------------------
2,361,933 3,079,504
================== ======================
Assets 2014 2013
GBP GBP
United Kingdom 45,618,042 44,180,739
Saudi Arabia 112,952 675,455
45,730,994 44,856,194
================== ======================
Liabilities 2014 2013
GBP GBP
United Kingdom 6,544,924 4,384,169
United Arab Emirates - 1,648
USA - (104)
Spain - (828)
Italy - (241)
Saudi Arabia 70,611 356,431
------------------ ----------------------
6,615,535 4,741,075
================== ======================
4. Investment revenue 2014 2013
GBP GBP
Interest
received 63,052 20,494
Dividends received 15,000,000 26,557,059
15,063,052 26,577,553
=========== ===========
5. Profit on disposal of available
for sale financial assets 2014 2013
GBP GBP
Derecognition of available for sale financial
assets 7,259,788 -
Change in fair value of available for sale
financial assets previously recognised in
Other Comprehensive Income (7,148,575) -
111,213 -
============ =====
Profit on disposal of available for sale financial assets arises
following the acquisition of Lancaster Gate (Hyde Park) Limited on
16(th) December 2013. A loss of GBP7.1m represents all gains
recognised and booked to Other Comprehensive Income up to the time
of derecognition of available for sale financial assets, as these
gains are required to be transferred to the Consolidated Income
Statement after the available for sale financial assets have been
sold.
6. Other gains 2014 2013
GBP GBP
Written off share capital of dissolved dormant
Group's subsidiaries (1,108) -
Negative goodwill arising on acquisition
of Lancaster Gate (Hyde Park) Limited 337,372 -
336,264 -
======== =====
7. Finance costs 2014 2013
GBP GBP
Interest on:
Overdue tax - 272
Tax penalties/(refund) 100 (6,490)
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